Oil industry is getting increasingly affected by fluctuating crude oil prices
resulting in low investments being made by companies across the globe. The oil
field services market is directly dependent on the number of operational oil
rigs. In spite of anticipated decline in overall global rig count in 2015, Saudi
Arabia plans to carry out its oil field operations in accordance to its
pre-existing exploration and production plans, thereby boosting oil field
equipment rental market in the country. The biggest reason attributable to this
is the country's unwillingness to lose its share in global oil & gas exports.
Additionally, the country's increasing interest in exploring its shale oil
reserves is expected to increase rig count in the coming years, which would have
a positive impact on the equipment rental market.

According to “Saudi Arabia Oil Field Equipment Rental Market Forecast &
Opportunities, 2020”, Saudi Arabian market for oil field equipment rental is
projected to grow at around 11% through 2020. The eastern region of the country
accounts for a lion's share in Saudi Arabia's oil field equipment rental market,
and the region's dominance is expected to continue over the next five years.
Drilling equipment rental segment accounts for majority of equipment rental
revenues, followed by production equipment rental segment. “Saudi Arabia Oil
Field Equipment Rental Market Forecast & Opportunities, 2020” discusses th

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